@article{c0f5c8e5f1a644f8a93593ae1b17e8f9,
title = "Misallocation and productivity",
abstract = "A large portion of differences in output per capita across countries is explained by differences in total factor productivity (TFP). In this article, we summarize a recent literature - and the articles in this special issue on misallocation and productivity - that focus on the reallocation of factors across heterogeneous production units as an important source of measured TFP differences across countries.",
keywords = "Distortions, Heterogeneous establishments, Misallocation, Productivity",
author = "Diego Restuccia and Richard Rogerson",
note = "Funding Information: ✩ Restuccia acknowledges the financial support from the Social Sciences and Humanities Research Council of Canada. * Corresponding author. E-mail addresses:
[email protected] (D. Restuccia),
[email protected] (R. Rogerson). 1 See also Caselli (2005) and Hsieh and Klenow (2010) for recent surveys. 2 Applications of this idea in different contexts include for example Nelson and Phelps (1966), Aghion and Howitt (1992), and Parente and Prescott (1994). See also Comin and Hobijn (2010) for an examination of technology adoption patterns across countries. 3 See, for example, Parente and Prescott (1999, 2000), Schmitz (2005), Bloom and Van Reenen (2007) and Bloom et al. (forthcoming).",
year = "2013",
month = jan,
doi = "10.1016/j.red.2012.11.003",
language = "English (US)",
volume = "16",
pages = "1--10",
journal = "Review of Economic Dynamics",
issn = "1094-2025",
publisher = "Academic Press Inc.",
number = "1",
}